“During the past period of very difficult market conditions she and her Amarc team have created a solid foundation to commence the value creation life cycle of a mining exploration company with expectations that development of Amarc’s projects will result in a new generation of BC porphyry copper mines.”
About Amarc Resources Ltd.
Amarc is a mineral exploration and development company with an experienced and successful management team focused on developing a new generation of BC porphyry copper mines. With the successful combination of strong projects and successful management, and plans for low share dilution financings all advancing, Amarc has created a very solid platform to commence the value-creation life cycle of a mining exploration company.
The Company is advancing its 100% owned IKE, DUKE and JOY porphyry copper deposit districts, located in southern, central and northern BC, respectively; each with proximity to industrial infrastructure, power, rail and highways. These projects represent significant potential for the discovery of important-scale, porphyry copper-gold and copper-molybdenum deposits.
The IKE Project is located 33 km northwest of the historical mining community of Gold Bridge. Over the last three years, Amarc has made a significant new copper-molybdenum-silver porphyry discovery, completing over 12,000 metres of drilling in 21 wide-spaced core holes in the IKE deposit that indicate extensive resource volumes which remain open to expansion in all directions. Extensive regional surveys have also identified numerous porphyry copper mineralized systems and deposit targets; all within 10 km of the IKE Deposit. Amarc believes the IKE Project has the potential to possess the grades and resource capabilities to develop into an important mining camp.
Amarc’s DUKE deposit and 190 km2 adjacent porphyry copper district is located 80 km northeast of Smithers and 30 km north of former mines (Bell and Granisle) operated by Noranda Mines. The DUKE Project area is logging road accessible from Smithers or Fort St. James.
Historically, DUKE has been explored with surface geochemical and geophysical surveys and also 30 shallow diamond drill holes. Many of the holes drilled intersected significant lengths of copper-molybdenum-silver-gold porphyry mineralization which remains open both laterally and to depth. The surrounding district hosts multiple second order porphyry copper deposit targets. Plans are to drill the DUKE deposit target later in the fall of 2017.
Amarc’s 72 km2 JOY mineral property is located 310 km north of Mackenzie and 25 km north of the Kemess South Mine site. AuRico Resources’ Kemess Underground Project, 19 km to the south of JOY, recently received a BC EA Certificate.
Past operators conducted prospecting-style work on the JOY claims. Some 3,000 soil samples, 800 rock samples and 30 silt samples were collected, but no drilling was done. The surface surveys clearly indicate a number of substantial porphyry copper-gold and epithermal silver-gold deposit targets across the JOY property. The porphyry copper-gold deposit targets at JOY are considered by Amarc to be a northern extension to the prolific Kemess porphyry gold-copper district. Most importantly, historical soil and rock sampling along with a recent confirmation soil survey, has revealed a regionally significant, 7 km2 copper, gold, molybdenum, silver and zinc geochemical anomaly, which potentially reflects a large and shallowly buried, copper-gold porphyry deposit.
The Company is planning to complete IP surveys and drill testing of this exceptional target at JOY starting in late July.
Amarc is associated with Hunter Dickinson Inc. (“HDI”), a diversified, global mining company with a 25 year history of porphyry discovery and development success. Previous and current HDI porphyry projects include some of BC’s and the world’s most important mineral resources, such as Pebble, Mount Milligan, Kemess South, Kemess North, Gibraltar, Prosperity, Xietongmen, Newtongmen, Florence, Sisson and Maggie. From its head office in Vancouver, Canada, HDI applies its unique strengths and capabilities to acquire, develop, operate and monetize mineral projects to provide superior returns to shareholders.
Amarc is committed to working collaboratively with governments and stakeholders to achieve responsible development of its projects, while contributing to sustainable development of the communities in which it works. All work programs are carefully planned to achieve high levels of environmental and social performance.
Mark Rebagliati, P. Eng., a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical content of this release.
ON BEHALF OF THE BOARD
Ronald W. Thiessen
Chief Executive Officer
Neither the TSX Venture Exchange nor any other regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Forward Looking and other Cautionary Information
This news release includes certain statements that may be deemed “forward-looking statements”. All such statements, other than statements of historical facts that address exploration drilling, exploitation activities and other related events or developments are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: Amarc’s projects will obtain all required environmental and other permits and all land use and other licenses, studies and exploration of Amarc’s projects will continue to be positive, and no geological or technical problems will occur. The Company cannot guarantee that the Consolidated Loan and issuance of securities contemplated by this release will complete. There is no certainty that the Company will be able to repay the Consolidated Loan or any other outstanding debt or liability of the Company in a timely manner or at all. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, potential environmental issues or liabilities associated with exploration, development and mining activities, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and tenure and delays due to third party opposition, changes in and the effect of government policies regarding mining and natural resource exploration and exploitation, exploration and development of properties located within Aboriginal groups asserted territories may affect or be perceived to affect asserted aboriginal rights and title, which may cause permitting delays or opposition by Aboriginal groups, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Amarc Resources Ltd., investors should review the Company’s annual Form 20-F filing with the United States Securities and Exchange Commission at www.sec.gov and its home jurisdiction filings that are available at www.sedar.com
SOURCE Amarc Resources Ltd.
